The rupee on Thursday continued its fall versus the dollar in the open market, losing five paisa more for buying and selling at Rs 57.55 and Rs 57.65 respectively.
Rising demand for dollars in the interbank market pushed the rupee value down, dealers said.
During the coming days, they, however, predicted that the local currency would move both ways in relation to the dollar.
The local currency followed suit and lost 34 paisa versus the euro for buying and selling at Rs 70.34 and Rs 70.64.
In the world markets, the dollar performed well versus the leading currencies on expectations that the US economy might improve in the coming days, dealers said.
Commenting on the next move by the European Central Bank, market analysts said that the bank was likely to adopt a wait-and-see attitude in its meeting.
The single European currency's value has risen about 50 percent versus the dollar from its October 2000 low, making the European exports more expensive as compared to the other foreign competition, experts said.
They also said that lower interest rate would not only boost the European economy, but would also curb the euro's surge versus the leading currencies.
According to a report, the US monitoring team visited China several times, and urged it to think about currency policy.
In the meantime, it is interesting to note that in the past, China has shrugged off such ideas over the currency policy.
Seemingly, it looks that the Bush administration is facing some sort of problems by the politicians ahead of the US general elections.
The US politicians are continuously trying to convene the US administration to take urgent steps against China's currency policy.
China had pegged the yuan at 8.28 per dollar since 1994.
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Kerb Buying Rs 57.55
Kerb Selling Rs 57.65
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Buying Rs 57.34
Selling Rs 57.37
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Repo Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
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Overnight 0.20 0.40 0.50 0.60 0.43
1-Week 0.30 0.40 0.40 0.60 0.43
2-Week 0.40 0.60 0.80 1.00 0.70
1-Month 1.00 1.15 1.30 1.35 1.20
2-Month 1.20 1.35 1.50 1.60 1.41
3-Month 1.30 1.45 1.55 1.60 1.48
4-Month 1.40 1.50 1.70 1.90 1.63
5-Month 1.45 1.55 1.75 2.00 1.69
6-Month 1.50 1.60 1.80 2.00 1.73
9-Month 1.80 2.00 2.20 2.40 2.10
1-Year 2.00 2.20 2.40 2.60 2.30
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Call Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
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Overnight 0.30 0.50 0.60 0.80 0.55
1-Week 0.40 0.60 0.80 1.00 0.70
2-Week 0.50 0.70 0.90 1.10 0.80
1-Month 1.10 1.25 1.40 1.50 1.31
2-Month 1.30 1.50 1.70 1.90 1.60
3-Month 1.35 1.50 1.70 1.90 1.61
4-Month 1.50 1.70 1.90 2.10 1.80
5-Month 1.40 1.60 1.80 2.00 1.70
6-Month 1.60 1.70 1.90 2.10 1.83
9-Month 2.00 2.20 2.40 2.60 2.30
1-Year 2.20 2.40 2.60 2.80 2.50
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